NYC Real Estate Investors

[Benjamin Hedden]

Hi,

Long time investor out of Birmingham Alabama. Relocated to NYC and selling real estate here. 

Need some insight from anyone involved in buy and hold market in NYC. 

Getting some pretty decent rental property leads. Not really knowing the sure fire buying criteria for NYC investors. Need help from any local investors or anyone familiar with the buy and hold market. 

What kind of cap rates are expected on a stellar deal?

Are we calculating cap rates based on cash purchase or 20% down conventional mortgage?

Main benefits or criteria NYC buy and hold investors are looking for?

What I'm getting at here is in my previous market essentially anything in a C+ area with a 10% cap rate on a 20% down mortgage would be a sure fire sale. I'm looking to get a sense of what these type of deals look like in NYC so when I'm negotiating with the seller I know exactly where price and rents need to be to hit a general buy box. 

Any guidance is greatly appreciated.